• EQT, which acquired idealista in 2020 at a EUR 1.3 billion valuation, will retain an 18 percent stake
• Cinven will acquire 70 percent of idealista; funds advised by Apax and Oakley will sell their shareholdings
• Jesus Encinar, founder and Chairman of idealista, will also retain his stake and continue to lead the Company alongside the management team

EQT is pleased to share that the EQT IX fund (“EQT”) has sold its majority stake in idealista (the “Company”). The transaction values idealista, which is the leading real estate platform in Spain, Italy, and Portugal, at EUR 2.9 billion. Cinven has signed an agreement to acquire a 70% stake in the Company. EQT originally acquired idealista in 2020 in a deal that valued the firm at EUR 1.3 billion and will retain an 18 percent share in the Company following the transaction.

Bert Janssens, Partner and Head of the Private Equity Europe advisory team, said: “Over the past four years idealista has entrenched its leading position in the Spanish and Portuguese market and strengthened its presence in Italy, all while implementing new digital and sustainability initiatives that create a foundation for further growth. We believe strongly in idealista’s future potential and are excited to remain invested.”

Jesus Encinar, founder and Chairman of idealista, will continue to lead the Company alongside the existing team, added: “This is excellent news for idealista and our team. We’re pleased that EQT will remain a minority shareholder and look forward to continuing our successful partnership for the coming years.”

The transaction is subject to customary conditions and approval.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

CapMan Residential Fund makes its second investment in Sweden through the acquisition of a forward funding project in Ursvik, Sundbyberg

CapMan Residential Fund acquires a forward funding project in Ursvik, Sundbyberg. The project is situated 10 km north of Stockholm city center and comprises 289 rental apartments, an underground parking garage with 85 parking spaces and two small commercial premises. The project is acquired from Reliwe, and the development and construction will be managed by Reliwe and Consto with expected completion in early 2027. Ursvik is a strong location in one of Sweden’s fastest-growing municipalities and offers excellent public transport connections for the residents in the area, ensuring convenient commuting to Stockholm city center and major hubs like Kista, Arenastaden and Bromma.

The acquisition is the ninth investment for CapMan’s pan-Nordic core residential fund. The investment fits well with the fund’s strategy to invest in attractive locations in the largest Nordic cities and in assets with strong sustainability profiles.

The asset will be certified with BREEAM, the Nordic Swan Ecolabel and aims to be EU Taxonomy aligned. It will achieve an EPC rating of level B at minimum and feature both geothermal heating and solar panels. Additionally, the future tenants will be provided with parking spaces equipped with EV chargers in the parking garage and have access to a car and bicycle pool, offering convenient and
eco-friendly transportation options.

“We are excited to secure our second investment in Sweden for our residential fund, marking the first within the Greater Stockholm area. This high-quality project is a fantastic addition to the existing portfolio and aligns well with the fund’s strategy to further expand its presence in Sweden. The strong sustainability profile of the project demonstrates our commitment to responsible investing,” says Pontus Danielsson, Investment Associate at CapMan Real Estate.

Since its inception in 2021, the open-ended core residential fund has successfully raised and invested nearly €1 billion of equity and aims to reach €2 billion by 2026. “We are excited about this investment and look forward to continue expanding our portfolio in Sweden and throughout the Nordics in the years ahead,” comments Magnus Berglund, Partner and Head of CapMan Real Estate Sweden and Norway.

“Our strong focus on asset quality and market selection gives us flexibility in different market conditions. We have built a dedicated investment and operating platform focused on the residential sector that enables us to develop properties at scale. As a developer, we are excited to continue supporting CapMan’s accelerated growth in the years ahead. We are impressed by the operating team at CapMan and look forward to working closely with them while delivering a fantastic residential project in Ursvik,” adds Gurmo Endale, Partner at Reliwe.

CapMan Real Estate manages approximately €4.4 billion in real estate assets, with a team of over 80 professionals located in Helsinki, Stockholm, Copenhagen, Oslo, London and Jyväskylä.

For further information, please contact:

Magnus Berglund, Partner and Head of CapMan Real Estate Sweden and Norway, +46 70 786 68 08

Pontus Danielsson, Investment Associate at CapMan Real Estate, +46 70 385 58 00

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

CapMan Real Estate announces strategic promotions and new role to bolster Nordic asset management

CapMan Real Estate makes key organisational enhancements including the introduction of a new leadership role to streamline Nordic asset management operations and support continued expansion.

Over recent five years, CapMan Real Estate has experienced substantial growth, with gross asset value under management surging by over €1 billion, reaching approximately €4.4 billion. The pan-Nordic team has also seen significant growth, now comprising nearly 80 professionals. To ensure smooth and efficient operations that support future growth, the company has made key organisational enhancements.

Effective 1 June 2024, Juhani Erke steps into the role of Chief Asset Management Officer (CAMO), overseeing asset management operations across the Nordic region. A CapMan team member since 2005, Erke will continue to serve on the CapMan Real Estate investment committee alongside CEO Mika Matikainen, CIO Torsten Bjerregaard, and COO Ilkka Tomperi. Erke’s extensive background in asset management and his long tenure as Head of Finland made him a perfect fit for this new position.

“CapMan Real Estate’s commitment to a fully vertically integrated business model, complete with an in-house asset management team, has been a cornerstone of our operations. The current expansion necessitates enhanced coordination of asset management activities across the Nordics. I am eager to collaborate with our local teams to foster a more streamlined asset management framework,” stated Erke.

With Erke’s transition to CAMO, Aleksi Konsti will assume the roles of Deputy Head of Finland and Head of Transactions, Finland, starting 1 October 2024. Erke will maintain his position as Head of Finland during the interim period.

Concurrently, CapMan Real Estate has promoted Investment Directors Marcus Lotzman and Hasse Wulff to the newly established positions of Head of Transactions Sweden and Head of Transactions Denmark, respectively, starting 1 June 2024. Their extensive experience and tenure at CapMan are invaluable assets to their new roles.

Magnus Berglund and Peter Gill will continue as Head of Sweden and Norway and Head of Denmark, respectively. Additionally, Anna Rannisto has been promoted to Sustainability Director, effective 1 April 2024. Under her capable leadership, CapMan Real Estate has made significant strides in establishing its sustainability objectives and effectively implementing its strategic plan.

“These strategic appointments and our recent talent acquisitions are instrumental in sustaining our growth trajectory. They enhance our ability to leverage the collective expertise of our Nordic team, fostering greater knowledge exchange and collaboration across CapMan Real Estate’s offices,” added Ilkka Tomperi, COO of CapMan Real Estate.

For further information, please contact:

Ilkka Tomperi, COO, CapMan Real Estate, +358 50 379 1903

Juhani Erke, CAMO and Head of CapMan Real Estate Finland, +358 50 549 5104

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

SINGAPORE – June 6, 2024 – Today the Indo-Pacific Partnership for Prosperity (IP3), Global Infrastructure Partners (GIP), and KKR announced the formation of a new coalition to catalyze infrastructure investment in the emerging market partner economies of the Indo-Pacific Economic Framework (IPEF). GIP and KKR will serve as co-chairs of the new initiative.

The coalition aims to accelerate investment in infrastructure and support IPEF economies in achieving their economic development, human capital and sustainability goals. Coalition members will help facilitate the identification, promotion, and development of successful infrastructure projects across the region. They will also support coordination with governments, multilateral development banks and development finance institutions to create solutions to de-risk investments.

The co-chairs and IP3 will be joined in the coalition by other global investors and partners including: Allied Climate Partners, BlackRock, GIC, The Rockefeller Foundation, and Temasek. The coalition estimates that its members, taken together, have over $25 billion (USD) in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years.

The coalition also includes the Center on Global Energy Policy (CGEP) at Columbia University’s School of International and Public Affairs (SIPA) as a knowledge partner.

“This coalition will play a vital role in increasing private infrastructure investment in Indo-Pacific emerging markets,” said David Talbot, Executive Director of IP3. “The coalition brings together Indo-Pacific investors, knowledge partners, governments, and development experts around the achievable mission of closing the investment gap in IPEF partner countries. IP3’s unmatched network of public, private and non-profit leaders is excited to help lead the formation of this investment accelerator.”

“GIP and KKR are proud to be leading this effort to help catalyze and enable infrastructure investment in the Indo-Pacific,” said Matt Harris, GIP Founding Partner and Co-Chairman of the investor coalition. “Together, we look forward to helping IPEF countries further their economic development and harness the opportunity private capital provides to advance efficiency and resilience in critical infrastructure.”

“There is a significant need to accelerate infrastructure investment to support Indo-Pacific countries in achieving their economic ambitions,” said Joe Bae, Co-Chief Executive Officer, KKR and Co-Chairman of IP3 and the investor coalition. “As one of the largest infrastructure investors in Asia, we see tremendous long-term opportunities in the region’s infrastructure and look forward to collaborating with the coalition to increase the deployment of private capital in the Indo-Pacific region.”

The coalition will initially focus on scaled infrastructure investments across the energy, transportation, water and waste, and digital sectors.

About Indo-Pacific Partnership for Prosperity

The Indo-Pacific Partnership for Prosperity (IP3) is a collaboration of public, private, and non-profit leaders dedicated to mobilizing capital and expertise to advance economic growth, sustainability, and inclusivity in the fourteen partner countries of the Indo-Pacific Economic Framework (IPEF). IP3 is a non-profit, non-governmental organization that works with partners across the region to strengthen the resilience of critical supply chains, accelerate the energy transition, and bolster workforce development and upskilling. For additional information, visit: https://www.indopacificpartnership.org/.

Launched in May of 2022, The Indo-Pacific Economic Framework (IPEF) is an initiative between the United States, Australia, Brunei, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam, which seeks to advance the resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the 14 IPEF economies. This partnership revolves around three of the Framework’s pillars to include supply chains, clean economy, and fair economy.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Global Infrastructure Partners (GIP)

Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.

GIP has approximately $112 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $73 billion and employ over 115,000 people. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our investors’ capital and to create positive economic impact for communities. For more information, visit www.global-infra.com.

Indo-Pacific Partnership for Prosperity (IP3) Media Contact

Matt McAlvanah

+1-202-341-9362

media@indopacificpartnership.org

Global Infrastructure Partners (GIP) Media Contact

Mustafa Riffat
+1-646-216-7788
mustafa.riffat@global-infra.com

KKR Media Contact

Liidia Liuksila

+1-212-750-8300

media@kkr.com

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• Acquisition reflects EQT Exeter’s conviction in the industrial sector and emphasis on investing behind high-quality assets across the globe
• Assemblage is strategically located along key logistics routes in the major metropolitan area of Minneapolis-St. Paul
• EQT Exeter will leverage its unique, vertically-integrated operating platform to upgrade, reposition and re-lease the Assemblage

EQT Exeter, a leading global real estate investment manager, today announced that the EQT Exeter Industrial Value Fund VI (“EQT Exeter”) has acquired 20 industrial properties (“the Assemblage”) strategically located in Minneapolis, MN, from Prologis, Inc. (“Prologis”), with plans to acquire an additional four properties by the final closing date.

The Assemblage consists of over five million square feet and features a mix of bulk, light industrial and last mile facilities with an average building size of more than 200,000 square feet. The properties are located across four prime Minneapolis logistics submarkets and offer proximate access to the I-494/I-694 beltway around the Minneapolis-St. Paul Metropolitan Area, serving as a key logistics route in the region. The properties also reflect in-demand building specifications and functional designs required by today’s modern, blue-chip tenants. The properties are 90% leased by 54 unique tenants, of which approximately 20% are existing tenants within EQT Exeter’s portfolio, demonstrating the depth of our global tenant client relationships.

“This transaction highlights our continued conviction in the industrial sector and reflects our keen asset selection and ability to swiftly execute on compelling small-, medium-, or large-scale opportunities in today’s market, while many of our peers stay on the sidelines,” said Matt Brodnik, Partner and Chief Investment Officer at EQT Exeter. “EQT Exeter is well-positioned to unlock the inherent value of these functional, well-located assets through our extensive network of ‘hyper-local’ real estate professionals that provide real estate solutions to over 1,200 corporate tenants globally. In opening our 28^th U.S. office in Minneapolis, we plan to locally serve many of our existing tenants and leverage our in-house leasing and property management teams to upgrade, reposition and re-lease the Assemblage.”

With a population of over four million people, Minneapolis-St. Paul is the nation’s 16^th-largest Metropolitan Statistical Area situated over 400 miles from the nearest major U.S. population center. Given its segregation from the national supply chain, Minneapolis-St. Paul is a market that rewards deep local presence and operations. The market’s sizeable end-user consumer base also attracts major corporate tenants that EQT Exeter serves on a global basis across its existing portfolio.

“Our strategy of engaging with the community, embodied in our ‘locals with locals’ approach, will not only help to better serve our new and existing tenant clients, but also create opportunities to add additional high-quality properties to our Minneapolis-St. Paul portfolio,” said Steve Stein, Managing Director at EQT Exeter. Minneapolis continues to experience positive market fundamentals driven by its declining new construction pipeline and positive net absorption figures, along with continued rent growth acceleration, which will benefit owners of existing, high-quality assets.

“We are pleased to add the Assemblage to our portfolio and plan to position these assets for long term success, particularly through strategic capital improvements and sustainability-focused upgrades like energy efficient LED lighting and select solar array installations,” said Stein.

The entire transaction is expected to close during the second quarter of 2024, subject to customary closing conditions.

Josh McArtor and Caitlin Clinton of Eastdil Secured arranged the transaction with assistance from Michael Caprile and Jusdon Welliver of CBRE National Partners.

Contact

EQT Press Office, press@eqtpartners.com

About EQT Exeter

EQT Exeter is a global real estate investment manager with nearly $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 440 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter’s track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.

More info: https://eqtexeter.com/

Follow EQT Exter on LinkedIn

London 08 May 2024 – KKR, a leading global investment firm, and its European hospitality partner Amante Capital, today announced the acquisition of the 132-bedroom Park Grand London Kensington Hotel from Bartek Holdings Limited. Terms of the transaction were not disclosed.

The transaction marks the first acquisition by KKR and Amante Capital since the launch of the vertically integrated hotel platform in 2022, and underscores KKR and Amante Capital’s strategic vision for the European hospitality sector. Amante Capital’s highly experienced team is focused on sourcing and acquiring hotel opportunities across Europe, asset management and operational capabilities.

Mai-Lan de Marcilly, Managing Director and Head of Transactions France and Hotels at KKR, said: “We are delighted to announce our first acquisition with Amante Capital since launching the strategic partnership. The transaction is a testament to the talented team, reaffirming our strong conviction in building a best-in-class operating platform to invest behind strong secular demand for European and UK hospitality and attractive pricing in a dislocated capital market.”

Following the acquisition, the property, located in London’s affluent Royal Borough of Kensington & Chelsea, is intended to undergo an extensive refurbishment to be repositioned as a boutique lifestyle hotel operated by Amante Capital under Marriott International’s Tribute Portfolio brand. The refurbishment is targeted to also enhance environmental credentials, reflecting KKR’s and Amante Capital’s commitment to an increasingly sustainable hospitality real estate industry.

The acquisition was made through KKR’s Real Estate Partners Europe II (“REPE II”), a fund dedicated to value-add and opportunistic real estate investments in Western Europe.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Amante Capital

Founded in 2022, Amante Capital is dedicated to investing in hotel real estate across Europe. With its experienced team specializing in origination, transactions, asset management, capex deployment and operations.

Media

KKR

KKR-Lon@FGSGlobal.com

Amante Capital

Info@amantecapital.com

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